Transferring in to USS

Transfer your pension from somewhere else

If you have pension savings elsewhere that you haven’t started taking and the scheme is registered with HMRC, you could transfer the pension benefits to the Investment Builder from most pension schemes.

Who can transfer in?

Members who are still paying in to USS can request to transfer in.

Is transferring right for you?

You should consider whether a transfer in to USS is in your best interests. You may want to take financial advice, if you’re not sure. You can find information on how to access an independent financial adviser and a range of other resources on the guidance and financial advice page. If you’re transferring safeguarded benefits from another scheme into the Investment Builder (check with your current scheme if you’re unsure), and those benefits are valued at £30,000 or more, the law requires you to obtain appropriate independent advice.

Please note: Your independent financial adviser must be authorised by the Financial Conduct Authority (FCA) to and have the correct permission to provide advice on pension transfers. To ensure your independent financial adviser is authorised, visit the Financial Services Register.

What do you need to do?

If you decide to go for a transfer, here’s what you need to do:

• Contact your previous pension scheme and ask for a transfer value statement and any discharge forms
• Send these to us, along with the Transfer in request form. Log in to My USS to complete online or download a copy of the Transfer in request form to print and return to us.

We’ll send you a transfer in pack with details on what to do next. If you change your mind about the transfer, simply ignore the form.

If you prefer for us to contact your previous pension scheme for you, complete and return the Transfer in request form and we’ll work with you to get this sorted as soon as possible.

Once your transfer’s sorted, the funds will go into the Investment Builder. This is the defined contribution (DC) part of USS where you build your own Investment Builder savings pot. You can manage these savings and how they’re invested in My USS.

Find out more about your investment options, including a short video on Your Investment Choices, on our Investment Builder page.